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County to seek appraisal
Published Tuesday, May 19, 2009
NATCHEZ — Stine Lumber Company has an opinion. Tax Assessor Reynolds Atkins has an opinion. Now, the Adams County Board of Supervisors wants a third opinion.
The board voted Monday to seek the opinion of a third-party property value assessor after Atkins stood his ground on what he said he believed was the correct taxable value for the Stine property on U.S. 61 South.
Atkins has assessed the property to be worth $7 million, while Stine contends the property is worth only $4.2 million.
The county appraisal for the property was valued at half of what Stine paid for the property, Atkins said.
“I felt like in essence he paid too much,” Atkins said.
But the building on the property had to be factored into the tax bill, and Atkins said he based the tax value on what it cost for the building to be built.
The problem, Stine President Dennis Stine said, is that the building isn’t worth what Atkins based it on.
“There is a complete disconnect between construction cost and a completed building value,” Stine said.
To prove that, Stine produced a property value assessment by Stine Company’s bank made when the building was 40 percent complete.
“I could not mortgage this property based on the cost of what it took to build it,” Stine said.
Atkins said he respected the abilities of the other appraiser, but he also knew what he was doing.
“I made my first appraisal in 1959,” he said. “I didn’t just ride up on a donkey. I am saying I hope you will show confidence in my opinion.”
Even if the Stine appraisal is correct, standard ethics procedures bar him from using the bank appraisal for a property tax appraisal, Atkins said.
And Atkins had a word of warning for the supervisors.
“You can change any appraisal I have,” Atkins said. “The only thing I would warn you about is if you go to changing appraisals made by my office, you are going to open a can of worms.
“When August comes, you are going to have 100 people up here wanting to change their appraisal.”
August is the deadline for citizens to protest the assessed value for their property.
After the board voted to get a third opinion from an unbiased, out-of-town appraiser, Supervisor Mike Lazarus said it is important for the county to appear business friendly.
“If we get an appraisal that is a lot less, then that’s what (Stine) should have to pay,” Lazarus said.
Stine has already paid the $175,000 tax bill that came with Atkins’ assessment, but $72,000 of that was paid in protest, which places it in a county escrow account until the matter is settled.
Comments
Posted by ardvark (anonymous) on May 19, 2009 at 6:40 a.m. (Suggest removal)
The county appraisal for the property was valued at half of what Stine paid for the property, Atkins said.
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Did I read that right?? Stine is saying that the property he paid $14 million for is only worth $4.2 million??
Posted by barbarj1 (anonymous) on May 19, 2009 at 7:46 a.m. (Suggest removal)
There is going to be a lot of disagreement this year about tax appraisal because all property is going to be re- appraised. The tax value is going up even though houses are selling for a lot less than their value because of the economy. But what else is news, we all know we are going to get screwed by the government. My brother has a house twice as big as mine and over a hundred acres of land in another county and he pays less than half the taxes that I do. But he doesn`t live in Adams county. I could move IF I COULD SELL MY HOUSE, but that is the catch since no one is buying houses in Natchez. I know there will be a lot of comments about how tax appraisal is the same in every county and I should leave if I don`t like it here but none of that is true. All you have to do is ask others in other counties what their tax is to see the difference. But what can we do?
Posted by natchezrepublican (anonymous) on May 19, 2009 at 8:37 a.m. (Suggest removal)
Hey Stine...you better watch out for your cash in that escrow account!!! You know we've still got some roads to pay for as well as some other BOS/BOA projects where the wagon was put waaaaayyyy before the horse LOL!
I just heard on the radio about the bridge lighting project...man I can't wait on our local government to screw that process up...everyone prepare for a goat roping!
Posted by jmsray (anonymous) on May 19, 2009 at 8:39 a.m. (Suggest removal)
I have all the respect in the world for Mr Adkins, however, I must say this. As a full charge book keeper, I have outside auditer review my work every year. If I make a misstake, I learn by it. If Mr Adkins gets his feelings hurt because of a third party review, maybe we should open that can of worms and see if they go anywhere. We could all be over taxed. If so, let's correct it. If not, we see how good our tax appraiser is.
Posted by momof1 (anonymous) on May 19, 2009 at 8:53 a.m. (Suggest removal)
Sounds like Mr. Atkins does not like being questioned. But much like the rest of the politicians, he may not have rode in on a donkey but.... well, let's just say there are definately similarities to various parts of a donkey.
I heard the same about the bridge. And Natchez declined to participate in something that will make both cities look better. But then again, the lights that help you see while driving on the bridge are usually off on the Natchez side anyway, so it's no surprise they would be too cheap to help out with that project.
Last one to leave, turn out the lights...oh that's right, most of them are already off.
Posted by double011 (anonymous) on May 19, 2009 at 10:15 a.m. (Suggest removal)
For those of you book keepers out there, the assessor is audited by the MS State Tax Commission, being very familiar with tax appraisals and property appraisals Stine cannot use an appraisal provided by his bank it was done when it was 40 percent complete therefore coming up with the 4 million dollar figure. Folks Atkins does his own apprisals(saving the county 380,000 thousand dollars every four years) but all new commerical buildings are CHECKED by the ms tax comm they spot check him often and according to tax office in jackson, Atkins has never had an appraisal reversed according to a Bryan in the state office that is not something he can say for all countys. Before you comment do your research like I did, ask any appraiser how it works, a personal or bank apprisal is not the same as a tax appraisal, banks usually don't consider many things that a tax appraisal does. WHAT HAPPENS IF 3rd party appraisal comes back higher.
Posted by excitement (anonymous) on May 19, 2009 at 10:53 a.m. (Suggest removal)
1959 aahh? Can you not make a mistake?
Posted by double011 (anonymous) on May 19, 2009 at 2:59 p.m. (Suggest removal)
I wonder if the Board of Supts ever even consider that this 3rd opinion will cost the taxpayer 3000-5000 bucks for a commerical appraisal, stick it too us again Board, I swear sometimes I wonder about several of them, Watts knows how much a Commerical appraisal will cost, I bet the other 4 dont have a clue, just got my bill back for mine done in the last few months on a small business and building $2500, and that was done locally, a jackson appraiser will be considerably higher based on size of the building and lot and his research will be much more intense.
Posted by northpearl (anonymous) on May 19, 2009 at 6:02 p.m. (Suggest removal)
Mr. Stein, I suggest that you hold on to your wallet. Mr. Atkins does not like to be questioned concerning valuations. Just wait until next year. Mr. Atkin's favorite tactic is to increase the following year.
Posted by southernboy (anonymous) on May 19, 2009 at 7:02 p.m. (Suggest removal)
In my opinion, Mr. Atkins has never done an appraisal correctly in his life. Several years ago I had an hour long meeting with Mr. Atkins, and my conclusion was he had no idea what he was doing. I can't figure out how he gets re-elected, except good ole boy politics. Good luck Mr. Stein.
Posted by 357magnum (anonymous) on May 19, 2009 at 7:34 p.m. (Suggest removal)
Could if have something to do with competition? Atkins Lumber, Stine Lumber.
Posted by KSUP56 (anonymous) on May 19, 2009 at 10:34 p.m. (Suggest removal)
I didn't reaize there was any property in Natchez/Adams County worth $14 million dollars
Posted by natashakubelikov (anonymous) on May 19, 2009 at 11 p.m. (Suggest removal)
Natchez ain,t worth that much..haha
Posted by barbarj1 (anonymous) on May 20, 2009 at 4:40 a.m. (Suggest removal)
I can`t see much competition between Atkins Lumber and Stine Lumber, Atkins is just a little mom and pop store compared to Stine and Home Hardware. Maybe Home Hardware made the right decision in making their biggest store in Vidalia.
Posted by sandyman7 (anonymous) on May 20, 2009 at 8:06 a.m. (Suggest removal)
Not many times I agree with the ND, but they may be right this time...Look out BOS..getting a 3rd appraisal just might be opening a "can of worm" you had rather not get into...And the spervisor that keeps getting his name in the paper needs to slow down and smell the roses..He keeps causing "stirs" among the people that elected him.....
Posted by tcauthen (anonymous) on May 20, 2009 at 9:01 a.m. (Suggest removal)
I believe Mr Atkins does a very thorough job. I have a building in front of stine. Bank made me pay for the appraisal on the building and lot for the loan. Mr. Atkins was real close on the numbers. With what my "little building" appraised for, I got screwed if stine is only worth $4,000,000.00
Posted by Lilsister (anonymous) on May 21, 2009 at 2:31 a.m. (Suggest removal)
Power in the wrong hands is dangerous. I think that not only Mr. Atkins, but other city officials have too much power, and sometimes there appears to to be a conflict of interest.
I know a lady, who lives in a very modest part of town and her taxes are much higher than the houses around her. She was told by Mr. Akins that he could charge her more simply because she added central heat. She informed him that her house was not really completed on the inside, and he responded that all the house has to have is a frame. IF THE HOUSE IS FRAMED WITH A ROOF, HE LOOKS AT SQUARE FOOTAGE.
THERE SHOULD BE A SCALE OR SOME FORM OF MEASUREMENT THAT CAN BE USED TO DETERMINE HOW MUCH TAXES ETC . SHOULD BE CHARGED. Our present system leaves too much authority to the person doing the assessment. Several departments in the city shoud be evaluated and changed immediately.
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